2013 year of housing market recovery

Latest figures from property insight specialists, Hometrack, show that 2013 witnessed a resurgence in the property market – one that is likely to spill over into 2014.

Across England and Wales, homeowners in 75 per cent of postcodes saw the value of their property rise. Across the year, house prices saw a 4.4 per cent increase on average, whilst December alone witnessed 0.5 per cent growth, according to theguardian.com.

The figures are in stark contrast to those of 2012, when only 20 per cent of postcodes saw price increases.

Speaking to express.co.uk, director of research at Hometrack, Richard Donnell, said that next year was already looking positive: “Overall we expect the momentum in house price growth to spill over into 2014 supported by a continued lack of supply and rising demand.”

Although he warned that house hunters could be wary of prices, adding: “What is less clear is the scale of additional pent-up demand ready to feed into the market in 2014 and the sensitivity of buyers to further price rises.”

As expected, properties in London saw the biggest uplift, with prices rising by 9.1 per cent. The South East followed in a close second, with its homes adding a further five per cent to their value.

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